STOCK MARKET BSE NSE

Fraudster arrested for duping banks of rs 7cr

Published: 02nd October 2016 04:01 AM  |   Last Updated: 02nd October 2016 06:12 AM   |  A+A-

Express News Service

BHUBANESWAR: The Economic Offences Wing (EOW) has arrested a fraudster Somanath Adhikari who had duped two banks to the tune of ` seven crore and made a vanishing act.
Adhikari was detained at Delhi Airport on Friday evening following a tip-off from EOW while he was travelling from Mumbai. He was brought to the City later.
A resident of Lalbazaar in Baripada, Adhikari was on the run for four years. In 2007, he had applied for cash credit from SBI, SMECCC Branch at Bhubaneswar. Using fake documents such as electricity bills, voter ID card, rent and holding tax, he secured the loan. He also produced a fake guarantor who had impersonated as genuine. The accused not only obtained cash credit of `1.5 crore but also secure a bank guarantee of `10 lakh and ad hoc draft facility of `15 lakh from the bank. He never paid back and the loan turned bad.
In the same year, he had taken a loan of `5.25 crore from Centurion Bank of Punjab Ltd which later merged with HDFC Bank. Here too, he did not pay back. In both cases, the EOW had registered cases and was on the look-out for Adhikari.
The accused was produced before the SDJM Court here.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp